Cost of living in Davidson research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Davidson is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Davidson is 125, with 100 being the average.
The cost of living index in Davidson is 1.2x higher than the national average.
Davidson ranks as the #149 cheapest in North Carolina out of 153.
Davidson ranks as the #5,043 cheapest out of 6,412 in the US.
The median home value in Davidson is $478,000.
The median income in Davidson is $141,845.
According to the most recent data on the cost of living, Davidson has an overall cost of living index of 125, which is 1.2x higher than the national index of 100.
Compared to North Carolina, Davidson has a cost of living index that's 1.3x higher than North Carolina's index of 95.
The standard of living in Davidson ranks as #149 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Davidson ranks as the #4 most expensive place in the Tar Heel State.
For more reading on life in Davidson, check out:
Six factors go into calculating the cost of living index in Davidson. Here is how it fairs on each of the criteria:
The Services index in Davidson is 104.
The Groceries index in Davidson is 103.
The Health index in Davidson is 103.
The Housing index in Davidson is 182.
The Transportation index in Davidson is 104.
The Utilities index in Davidson is 95.
|Living Expense||Davidson||North Carolina||National Average|
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Davidson is $478,000.
The Median Rent in Davidson is $1,352.
The Median Income in Davidson is $141,845.
The Home Value To Income in Davidson is 3.4x.
The Rent To Monthly Income in Davidson is 0.11x.
|Statistic||Davidson||North Carolina||United States|
|Median Home Value||$478,000||$197,500||$244,900|
|Home Value To Income||3.4x||3.3x||3.5x|
|Rent To Monthly Income||0.11x||0.2x||0.2x|
The cost of living varies in the cities and towns around Davidson. Here's a quick look at the cost of living in the most populous nearby places:
Charlotte, NC has a cost of living index of 103, 0.8x Davidson.
Concord, NC has a cost of living index of 96, 0.8x Davidson.
Huntersville, NC has a cost of living index of 113, 0.9x Davidson.
|City||Population||Cost Of Living||Vs. Davidson|
|Mount Holly, NC||17,315||96||0.8x|
|Lake Norman of Catawba, NC||8,441||112||0.9x|